Wondrous item (diadem), artifact (requires attunement by a spellcaster)
This ornate green crown is made of pure residuum, refined using a long forgotten method. It is said that this diadem was once worn by the Wildmother herself. With a small diamond in the center of the diadem, the Circlet of Mystic Conflagration has been used by the most powerful of druidic leaders in the history of Xioria. Long before the magics of giants and dragons, the ley lines were wielded and bent by sheer force of will. This diadem allowed creatures of immense power to ring every mote of arcane power from the weave in times of need, though doing so incurred a physical toll.
Inherent Mysticism
You learn and may cast Chromatic Orb and Levitate at will using this diadem.
Constancy of the Arcane
While concentrating on only one spell, the DC for saving throws to maintain concentration is lowered by 10.
Arcane Source
As an action, you may use this diadem to regain one spell slot of third level or lower once per day.
Instinctive Recall
As an action, you can instantly prepare a spell from your available class spell list (or spellbook, if you prepare spells from one) that you did not have prepared. This spell choice must be of a level for which you have spell slots. You then lose preparation of a different spell of your choice of equal or higher level. This may be done once per day.
Arcane Channel
You are no longer limited to one non-cantrip spell per turn. Should you cast two or more spells in a single turn, only one of them may be of 3rd level or higher.
Duality of the Arcane
If you attempt to cast a spell that requires concentration while already concentrating on an existing spell, you may maintain concentration on both spells simultaneously.
At the end of each turn where you are concentrating on two spells, you must make a Constitution Saving Throw with a DC equal to 10 + the number of rounds you have concentrated on two spells. On a failure, you lose concentration for both spells. You may at any point drop concentration on a spell.
Any time you would be forced to make a Constitution Saving Throw to maintain concentration due to taking damage or distraction, the DC equals 10 + both the spells levels combined, or half the damage, whichever is higher. On a failure, you lose concentration on both spells.
Disclaimer: Much of the text from the traits Instinctive Recall, Arcane Channel, and Duality of the Arcane is lifted directly from Matt Mercer's Tal'dorei campaign guide.